I found some other link on the internet that supported this...but since she is SOOO famous and well know, I would believe this more coming from a better source (hence why I didn't post the other source here).

LOS ANGELES - Elizabeth Taylor was hospitalized for an undisclosed reason but was expected to return home soon, representatives for the Oscar-winning actress said Thursday.

A statement released by Dick Guttman, her Los Angeles-based publicist, did not say where Taylor was staying, nor did it specify what might have been ailing the 76-year-old actress.
"Ms. Taylor is fine," the statement read. "Her hospital visit was precautionary. She will be returning home shortly. At present, she is surrounded by family, friends and fabulous jewels."
Guttman said he had no further details. A person who answered a call placed to Taylor's home Thursday, who would not give her full name, said only that Taylor's condition was "nothing to worry about."
A number of health issues have dogged Taylor through the years, including congestive heart failure in 2004 that, compounded with spinal fractures and the effects of scoliosis, left her nearly bedridden. She's also battled ulcers, amoebic dysentery, bursitis, acute bronchitis, two serious bouts of pneumonia, drug and alcohol addiction and a benign brain tumor that was removed in 1997.
Taylor won Oscars for roles in "Butterfield 8" in 1960 and "Who's Afraid of Virginia Woolf?" in 1966. She also won a special Oscar, the Jean Hersholt Humanitarian Award, mainly for her work as an AIDS activist, in 1993. She still lives in Bel-Air, a tony section of Los Angeles that's home to many of Hollywood's elite figures.
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AP writer Bob Thomas contributed to this report.

...she seems to be as tough as old boots, so lets hope she pulls right through again :)

According to news reports, it appears that those old boots might continue to march on. It would not be the first time that she has looked Death in the face and stared him down.

She is a planetary treasure, I hope that the next news we hear of her will involve her organizing another AIDS benefit event, and telling some hapless makeup artist in no certain terms exactly which shade of blue eyeshadow must be applied to those eyes!